What is included in the definition of 'Credit Card Sales' for a Pearce Bespoke franchise?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
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- "Credit Card Sales" means all revenue transacted from or during the operation of your Business including, but not limited to, service fees, product sales, business interruption insurance, and all amounts that you receive at or away from the Site, whether from cash, check, EFT, ACH, wire transfer, credit and debit card, barter, exchange, trade credit, loyalty program points, gift card redemptions, or other credit transactions.
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, Credit Card Sales encompass all revenue generated from the operation of your business. This includes service fees, product sales, business interruption insurance proceeds, and all amounts received both at the business location and away from it.
The definition extends to various forms of payment, such as cash, checks, EFT (Electronic Funds Transfer), ACH (Automated Clearing House), wire transfers, credit and debit cards, barter, exchange, trade credit, loyalty program points, gift card redemptions, and other credit transactions. This comprehensive definition ensures that all forms of revenue are included when calculating fees and other financial obligations to Pearce Bespoke.
Pearce Bespoke calculates Gross Sales, Net Sales, and Credit Card Sales weekly to determine royalty fees and other payments. Understanding this definition is crucial for franchisees as it directly impacts the calculation of royalties, marketing expenses, and other financial obligations to the franchisor. Franchisees should ensure they accurately track all forms of revenue to comply with the franchise agreement and avoid discrepancies in their financial reporting.